This application will backup your applications' APKs so that you can install them on your new device (of course you'll have to transfer the App_Backup_Restore folder on your SD card to the new device in order to restore the apps.

This is almost exactly the same as using your GMAIL account and Google Play Store to restore the applications, except in Google Play Store you'll have to redownload them instead of just reinstall them. That being said, though, App Backup & Restore will only restore the app but not the data on it (as in your saved games, login information, etc.).